[20081119]RS22987_全国信用合作社股份保险基金（NCUSIF）：信用社存款保险.pdf

1 October 19, 1970, 84 Stat. 994.2 Credit unions are cooperative organizations and member deposits are referred to as “shares”andthe term share accounts covers the various types of member accounts offered by credit unions.Order Code RS22987November 19, 2008National Credit Union Share Insurance Fund(NCUSIF): Credit Union Deposit InsurancePauline SmaleEconomic AnalystGovernment and Finance DivisionSummaryThe National Credit Union Share Insurance Fund (NCUSIF) is the federal depositinsurance fund for credit unions. This insurance fund is administered by the NationalCredit Union Administration (NCUA), an independent federal agency. Membership inthe NCUSIF is mandatory for federal credit unions. The vast majority of state-charteredinstitutions are also federally insured. On October 3, 2008, the Emergency EconomicStabilization Act of 2008 (P.L. 110-343) temporarily increased the deposit insurancecoverage for depository financial institutions insured by the NCUSIF and by the FederalDeposit Insurance Corporation (FDIC). The intent of this action was to bolster publicconfidence in financial institutions, which had been negatively affected by the turmoilin financial markets. The basic covera